LETTERS: Foreign debt (letter)

by Michael J. Henderson

News Weekly, March 22, 2003

Sir

When will people wake up to the fact that one day our foreign debt will become so large that giant international bankers will refuse loans for job creation and infrastructure development, and there will be grinding poverty to record levels.

To remedy the problem, we need a national bank which lends at the lowest possible rates just enough to cover the running costs of this newly created national financial institution. It will lead to greater living standards from this time onwards.